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Started By
Message
re: Housing market is stupid right now - brief rant *Update in OP*
Posted on 5/3/22 at 10:22 pm to DeltaTigerDelta
Posted on 5/3/22 at 10:22 pm to DeltaTigerDelta
And:
0
Posted on 5/3/22 at 10:23 pm to LSUTigahss
What is your financing situation?
Posted on 5/3/22 at 10:25 pm to LSUTigahss
In hot areas they collect bids, asking wont come close to getting it done.
Posted on 5/3/22 at 10:27 pm to LSUTigahss
quote:
quote:
Where is this at? What price range? Damn. Make the story interesting.
Would rather not draw anymore attention than it’s already getting
In the state of…?
Posted on 5/3/22 at 10:28 pm to DownshiftAndFloorIt
quote:
There's no fricking way there are THAT many people around with shitloads of money laying around to pay cash for houses. No way. I refuse to believe it. If every $400k house for sale in America can go for cash right now than im actually a broke dick mother fricker and didn't know it.
Tons of people that bought in hot areas years ago have the equity to cash out and pay cash in cheaper areas, and $400k is a cheap area for many.
Posted on 5/3/22 at 10:29 pm to nola tiger lsu
quote:
In hot areas they collect bids, asking wont come close to getting it done.
Just closed on our house we sold. Multiple offers in first 2 days on market- all over asking price
We took the one with best terms and closed within 2 weeks. We could have held out for more offers but were ready to be done
Posted on 5/3/22 at 10:37 pm to LSUTigahss
Sold within the last year and had an offer above asking the first hour the house was listed. We went through 24 hour open house and had several equal offers. Plus full asking price offers in cash.
ETA: we didn't take blackrocks money
ETA: we didn't take blackrocks money
This post was edited on 5/3/22 at 10:39 pm
Posted on 5/3/22 at 10:37 pm to fallguy_1978
Close to half of single family housing unit purchases in some MSAs are coming from Wall Street funds like BlackRock, and they don’t need mortgages to close.
Posted on 5/3/22 at 10:40 pm to supadave3
quote:‘A while longer’ will become a ‘not quite yet’ pretty soon, before becoming ‘okay almost there’ shortly thereafter, before becoming ‘frick it I’ll rent forever’ eventually.
I’ll be apartment trash for a while longer…
Thanks Wall Street
This post was edited on 5/3/22 at 10:43 pm
Posted on 5/3/22 at 10:47 pm to LSUTigahss
My niece just got a hose in a hot area on 1st dom. They bid bit over asking, with a clause that they would beat any offer by 1k, with documentation of competing offer. There were multiples and they got the house.
It was never that way when I was house hunting; decent places used to stay on the market a while.
It was never that way when I was house hunting; decent places used to stay on the market a while.
Posted on 5/3/22 at 10:54 pm to LSUTigahss
Rescind your offer.
Posted on 5/3/22 at 10:54 pm to DownshiftAndFloorIt
quote:
There's no fricking way there are THAT many people around with shitloads of money laying around to pay cash for houses. No way. I refuse to believe it.
That’s because normal people aren’t, investors buying up future rental properties they can afford, sure but the housing market is to insane for that to be all it is. Free money, low internet rates (at least for now) what could go even worse than last time?
Posted on 5/3/22 at 11:03 pm to LSUTigahss
I lost 14 bids last March when I bought a place in Idaho. Most to cash offers. Finally got lucky on one of the first ones we lost out on and the their financing fell through. Owner just wanted to get out so accepted our offer the 2nd time.
It was a frustrating process but I got lucky. Nuts that Zillow and Redfin are already showing the value up $110k in 13 months.
It was a frustrating process but I got lucky. Nuts that Zillow and Redfin are already showing the value up $110k in 13 months.
Posted on 5/3/22 at 11:04 pm to LasVegasTiger
Saw an article about how Boise home prices are stabilizing now compared to where it was a couple of years ago.
Posted on 5/3/22 at 11:07 pm to LSUTigahss
People still buying like crazy with interest rates above 6%?
Patiently waiting for the house of cards to tumble
Patiently waiting for the house of cards to tumble
Posted on 5/3/22 at 11:08 pm to LSUTigahss
Houses here in houston (in many cases) aren’t even giving an option period. It’s a take it or leave it market which is fricked up.
Brother found a house for $600K, offered $645K three days ago and they haven’t even responded
It’s bizarre
Brother found a house for $600K, offered $645K three days ago and they haven’t even responded
It’s bizarrePosted on 5/3/22 at 11:08 pm to Paul Allen
Yeah Boise was nuts for a while, I looked at Boise initially and decided against it and opted for smaller city.
Posted on 5/3/22 at 11:09 pm to LSUTigahss
quote:
Obviously not. They will get back with me Thursday afternoon, deciding to continue to show.
Is this shite really that wild right now? What’s the point of listing price
I mean, wouldn't you do the same?
Realtors are advising clients to take in bids over the span of a few days and then pick the highest bidder. Every last one of us would do it.
Posted on 5/3/22 at 11:14 pm to LSUTigahss
I have $75k equity sitting in the bank looking for a house in AP. Every house I’ve looked at is pending within a day. People are offering bids on houses without even looking at the house. It’s been 90 days and nothing but overpriced shite DR Horton or DSLD homes in neighborhoods going to trash. I might end up in a condo or townhome just to wait til things crash.
Posted on 5/3/22 at 11:15 pm to ItNeverRains
quote:check your mail.
ItNeverRains
We took the Franklin money and moved to Fairview. Could have probably held out for 2 if we waited another 6 months but took 1.55 (had an offer for 1.8 that fell through) and paid cash for the house in Fairview.
Eta we offered 885 for a house listed at 799. They had 6 other offers and the high one was 915 but it fell through so we were next in line.
Crazy but we were able to secure the house we wanted after getting beat out on 6 or 7 other houses.
This post was edited on 5/3/22 at 11:21 pm
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